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In an incursion limited to eastern Ukraine, there could be a rise in the price of oil by $5 or $10 a barrel, according to Patrick De Haan of GasBuddy. Currently, a $1 per barrel rise equates to about a 1.5 cents per gallon rise in the national average price of gas. In response to sanctions, Russia, could retaliate by curbing oil exports, he said, impacting global markets.

If higher oil and gas prices cause the Federal Reserve to be more aggressive in its monetary tightening, that could also impact inflation, according to Mark Zandi, chief economist of Moody's Analytics.

Cyberwarfare also remains a concern. Last month, the Department of Homeland Security warned that the U.S. response to a possible Russian invasion could result in a cyberattack launched against the U.S. by the Russian government or its proxies. Amid increased warnings of a Russian invasion of Ukraine, senior law enforcement and homeland security officials last week urged private industry and state officials to shore up their cyber infrastructure.

There's also the impact on American troops, as more military forces are being deployed to support NATO countries.

\"I think [Americans] should be paying attention to this because it could significantly affect strategic deployments of U.S. personnel,\" Albert said. \"If nothing else, just people moving from where they are in their typical assignments right now, to move somewhere else, more strategically positioned against, perhaps, a Russian invasion.\"

ABC News' Conor Finnegan, Molly Nagle, Sarah Kolinovsky, Zunaira Zaki, Mary Burke, Layne Winn and Will Kim contributed to this report.

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